Closing Bell: Market defies cautious earnings
DJIA 11601.60 (+134.26)
S&P500 1276.80 (+16.80)
NASDAQ 2303.96 (+24.43)
10YR T-Note 4.097 (+0.03%)
52-Week Lows
Top Analyst Calls
American Express Company (NYSE: AXP) was one of the more poor financial stocks today after the company choked on earnings last night. It is also facing deteriorating business despite it being thought of as the highest quality credit card around. Shares were down 9.2% at $37.13 in today's final minutes.
Apple Inc. (NASDAQ: AAPL) was a big-sized loser in the morning after the company beat earnings but gave cautious guidance last night. Shares actually recovered sharply from this morning's losses and were "only" down 4.4% at $158.92 in today's final minutes.
Caterpillar Inc. (NYSE: CAT) rose after its earnings beat expectations. While the guidance ahead is in line with some cautious comments on the economy, the great word about emerging markets had shares up 2% to $74.73 in today's final minutes of trading.
Sirius Satellite Radio Inc. (NASDAQ: SIRI) was down almost 4% at $2.32 in today's final minutes after word came out that an FCC commissioner was voting against the merger.
UAL Corp. (NASDAQ: UAUA) traded up a monster 64% to $8.21 by today's final minutes of trading. The airline lost about $2.7 billion on high fuel costs, but the company also disclosed that it had raised its job cut goals and raised about $1.7 Billion in asset related sales.
Wachovia Corporation (NYSE: WB) managed to buck bad earnings, severe writedowns, and a monster dividend slash. But the company said it would not need to raise any dilutive capital via share sales. In today's final minutes shares were up about 17% at $15.45.
Related Posts
- I'm bullish on Visa (32 days ago - 0 Comments)
- The week in preview: More hope for techs, doubt about financials (44 days ago - 1 Comments)
- Waiting for the other shoe to drop: The looming credit crisis (Yesterday - 5 Comments)
- Next target for fear mongers: Credit cards (Yesterday - 4 Comments)
- Who wants a Wal-Mart credit card? (25 days ago - 3 Comments)











Reader Comments (Page 1 of 1)
7-25-2008 @ 1:17AM
Mike Sanders said...
If the President, Congress and the SEC want to prevent a disaster, it's time to reign-in the "shorts..." Short positions are when someone, usually a very sophisticated investor, borrows your shares and then sells them, betting that the market goes down. Most of us, are "long..." Most 401-k's, most retirement plans, virtually all employee stock prurchase plans and most individuals. I believe that a person may specifiy that their shares be un-loanable," but most people either don't know how, or they don't bother to do so... In order to protect the average American investor, I feel that it is necessary to block the shorts and work towards a more positive goal, appreciation. I pray that someone listens to this.